Gortikov Capital, a leading firm specializing in multifamily and commercial real estate investment, management, and advisory, announced that it has acquired, Samo Collection, a portfolio of 399 income- and rent- restricted affordable housing units across 11 buildings in the City of Santa Monica for $120 million.
“For us, Santa Monica is not just an attractive place to invest – it’s our home,” said Bryan Gortikov, President of Gortikov Capital. “Our acquisition of the Samo Collection is a rare opportunity for us to invest in our community at scale, and we are incredibly excited to begin implementing our plan to improve these assets, preserve and expand affordability that our community so desperately needs, and enable greater access for people to live in and enjoy our City.”
Built between 1997 and 2009, the Samo Collection’s 399 units are comprised of studio, 1-bedroom, 2-bedroom, and 3-bedroom units featuring best-in-class in-unit amenities including stainless steel appliances, hardwood-style flooring, and central heating and air conditioning. Santa Monica, as one of the most desirable residential submarkets in the country, is experiencing a well-documented and deepening affordability crisis. Based in Santa Monica, Gortikov Capital seeks to make a meaningful impact on its community by further reducing income and rent levels within the Samo Collection, thereby preserving and expanding affordability within the City.
Founded by Bryan Gortikov, Gortikov Capital has more than 20 years of multifamily and commercial real estate investment, management, and advisory experience. Gortikov Capital has owned and managed more than $1 billion of commercial and multifamily residential real estate projects throughout the West Coast, and has arranged more than $3.5 billion of bridge, construction, and permanent debt through its advisory and brokerage arm. This acquisition adds to its track record of successful transactions in the multifamily space, demonstrating its ability to execute on complex deals and manage diverse asset classes.
